SEZ investments in Tanzania: Eligibility criteria for licensing investors

Like the Economic Processing Zones (EPZ) scheme that I discussed last week, the Special Economic Zones (SEZ) scheme is administered under the Special Economic Zones Act, 2012 (the “SEZ Act”) read together with the Special Economic Zones Regulations, 2012 (the “SEZ Regulations”). Applications for registering investments under the SEZ scheme are submitted to the Economic …

EPZ investments in Tanzania: Eligibility criteria for licensing investors

The relevant law for this discussion is the Export Processing Zones Act, 2002 (“the EPZ Act”), which provides for the EPZ investment scheme under which investors may register their business to take advantage of the tax and non-tax incentives that the scheme offers. The COVID19 novel coronavirus pandemic has triggered severe budget deficits for governments …

Striking off a company on the Registrar’s own accord: Analysis of section 400A

The Written Laws (Miscellaneous Amendments) (No. 3) Act 2019 (“the Act”) introduced section 400A in the Companies Act, 2002 regarding the procedure to strike off (or, remove) the name of a company by the Registrar of Companies (“the RoC”), of his or her own accord, from the Register of Companies (“the Register”). The removal of …

A look at key recent amendments to the Tanzania Court of Appeal Rules

The Tanzania Court of Appeal (Amendment) Rules, 2019 came into force on 26 April 2019 vide Government Notice No. 344 published on 26/4/2019, and shall be read as one with the Tanzania Court of Appeal Rules, 2009. In this blog post, I highlight some of the key amendments introduced in order to facilitate timely dispensation …

Can a taxpayer appeal against a compounding order of the Commissioner for Customs in the Tax Revenue Appeals Board?

On 16 April 2019, Tanzania's apex court, the Court of Appeal, had the occasion to deal with the above question in Commissioner General TRA v. Mohamed Al-Salim and Omary Ally Hassan, Civil Appeal No. 80 of 2018. This appeal originated from the dispute sorrounding the seizure and forfeiture of unaccustomed goods which were found in …

Consultation is vital to the retrenchment process

In June 2012, the rich and powerful congregated in Davos in the scenic Swiss Alps for the 42nd annual meeting of the World Economic Forum to discuss, among other issues, the bitter fact that the world economy was not creating enough jobs. It is now nine years since that meeting took place and yet unemployment …

Arbitration: A new way in bank loan recovery?

What is the feasibility of using arbitration as a dispute resolution mechanism in the Tanzanian banking and financial services sector? The Arbitration Act, 2020 is the principal legislation governing arbitration in Tanzania. Outside the banking sector, arbitration is gaining some traction as a valuable dispute resolution mechanism embraced by businesses in the real economy. Presently, …

Stay of execution of the decree of a court

In this blog post, I focus on the concept of stay of execution of a decree, and the factors which the court will consider in granting or refusing the stay. Reference is made to relevant judicial authorities in Tanzania, where need arises. So, what is a stay of execution? A stay of execution is a …

Objecting the attachment of property

In this blog post, I anatomise the option of objecting the attachment of property in execution of a decree based on a judgment. The effect of filing objection proceedings is that the property attached will be released or the sale of the property will be halted until the objections are investigated and determined.  The provisions …

Attachment of assets in execution

At the conclusion of the trial of a case filed in court, the court renders its judgment. The enforcement of the judgment allows the judgment creditor to enjoy the fruits of his judgment. But can you imagine what would happen if people don’t obey and comply with judgments? Today, the enforcement of money judgements is …

The value of witness statements in banking and commercial litigation

At the trial of a banking dispute, facts that are required to be proved must be proved by the examination of witnesses. The questioning of a witness by the party who called him is called the "examination-in-chief". In proceedings commenced by plaint in the Commercial Division of the High Court of Tanzania (“the Commercial Court”), …

The power of injunctions in banking litigation

Not so many people in Tanzania's business community understand that injunctions can operate as a powerful intervention strategy in banking and finance litigation. The timing and efficacy of injunctions makes them really distinctive, yet the speed with which courts grant certain injunctions startles corporate borrowers and lending banks. The impact of injunctions can be hard-hitting; …

Tanzania perspectives in litigating banking frauds

Over the past few years, the risk landscape for banks in Tanzania has been constantly evolving. Besides the deployment of advanced technologies by banks to detect fraud, the Bank of Tanzania (BOT) and the Financial Intelligence Unit (FIU) have issued a number of regulations, guidelines and circulars on fraud risk management for banks in efforts …